American Banker; New York, N.Y.; Jul 19, 2001 Vol. 166, Issue: 138 "In Brief: Capital One in 16th Record Quarter Second-quarter revenue, defined as managed net interest income and noninterest income, rose to $1.6 billion from $1.5 billion in the first quarter and $1.2 billion the year earlier. For the quarter, Capital One netted 1.7 million new accounts, bringing its total to 38.1 million. Its managed consumer loan balances grew $3.7 billion in the quarter, to $35.3 billion Capital One Financial Corp. on Wednesday announced its 16th consecutive quarter of record earnings, which the company attributed to a 39% rise in total revenues from the year earlier. Second-quarter earnings were $155.3 million, or 70 cents per share, compared with $112.5 million, or 54 cents, the year before. First-quarter profits had been $143.6 million, or 66 cents per share. Richard D. Fairbank, Capital One's chairman and chief executive officer, said, "Our focus on the superprime sector resulted in robust loan growth." Second-quarter revenue, defined as managed net interest income and noninterest income, rose to $1.6 billion from $1.5 billion in the first quarter and $1.2 billion the year earlier. For the quarter, Capital One netted 1.7 million new accounts, bringing its total to 38.1 million. Its managed consumer loan balances grew $3.7 billion in the quarter, to $35.3 billion. The managed net chargeoff rate rose to 3.98%, compared with 3.75% in the first quarter. The managed delinquency rate (loans 30 or more days overdue) rose to 4.92% at June 30, from 4.72% at March 31. Marketing expenses in the second quarter grew by $37.5 million, to $268.7 million, from the first-quarter total, and by $57.1 million from the $211.6 million spent the year earlier."
